A lot of people nowadays are spending too much money and they don’t save anything for future use. Is this a positive or a negative development?

In today's world opting for luxury lifestyle is the fundamental right of everyone and thus they are availing it in the form of buy luxury items. A myriad of society has the perception that luxurious life patterns can be achieved through massive spending. My standpoint and observation hereby affirm that this trend harbors multiple negative implications rather than positive ones. This essay will elaborate on disturbance to a personal budget and a vicious circle of debt. The fundamental despondency associated with extravagance spending is the disturbance of personal budget which in turn will force towards compromise social life to balance out the budgetary disturbance caused by overspending. For example, my work-life colleague lenient towards sports brands, thus by fulfilling his thirst for iconic sports material force him toward compromise life standards because of budgetary disturbance. Another deleterious effect of spending a significant amount of cash is none other than a vicious circle of debt. Too put it in another way, too much of misspending will lead to pointless purchases pattern and thus will find themselves in tremendous financial debts, As result the spender will not be in the position to pay off the amount of liability standing at his account. For example, the majority of the credit card holder is not able to pay back the debt they create because of their spendthrift behavior, generally, to pay back the financial obligation require a significant amount of time. On the whole, relating any constructive mechanism to the overspending seems not only difficult rather entirely impossible. This trend is pushing many people towards budgetary disturbance and the vicious circle of debts.